Western Digital Corporation (NASDAQ:WDC).
Cornerstone Investment Partners, LLC says it lowered its investment in Western Digital Corporation by 13.5% in its quarterly SEC filing. Its position was worth $81,549,000 a decrease of $6,277,000 as of quarter end.
Cornerstone Investment Partners, LLC isn’t the only one who has changed their investment in WDC. Gateway Investment Advisers LLC cut its stake by selling 328 shares a decrease of 1.8% in the quarter. Gateway Investment Advisers LLC owns 17,991 shares valued at $1,594,000. The total value of its holdings increased 5.4%. As of quarter end Daiwa Sb Investments Ltd. had bought a total of 7,320 shares growing its stake by 14.7%. The value of the investment in WDC went from $4,115,000 to $5,066,000 a change of 23.1% quarter over quarter.
As of the end of the quarter Bank Of Montreal /can/ had disposed of 2,242 shares trimming its position 10.4%. The value of the investment in (WDC) decreased from $1,785,000 to $1,718,000 a change of $67,000 for the reporting period.
Equity analyst Evercore ISI Group initiated coverage on the stock with a rating of “Buy”. On June 13 analysts at Aegis Capital added the stock to its research portfolio setting a rating of “Buy”.
On December 7 Deutsche Bank maintained a company rating of “Buy” and lowered the price expectation to $75.00 from $80.00. On October 27 the stock rating was upgraded from “Underperform” to “Neutral” in a statement from Bank of America.
October 11 investment analysts at Jefferies held the company rating at “Buy” but raised the price expectation from $54.00 to $70.00. On October 4 Citigroup kept the stock rating at “Buy” but moved up the price target from $48.00 to $70.00.
The company is so far trading up from yesterday’s close of $91.75. Additionally Western Digital Corporation recently declared a dividend that will be paid on Monday July 17th, 2017. The dividend payment will be $0.500 per share for the quarter which is $2.00 annualized. This dividend represents a yeild of $2.30 which is the dividend as a percentage of the current share price. The ex-dividend date is Wednesday the 28th of June 2017.
Shares are trading at $94.63 which is a tad above the 50 day moving average which is $89.47 and which is just over the 200 day moving average of $80.58. The 50 day moving average went up $4.70 or +5.26% and the 200 day average was up $13.59.
In the latest earnings report the EPS was $-0.89 and is projected to be $9.03 for the current year with 291,242,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $3.17 with next year’s EPS anticipated to be $12.21.
Investors are a little more bearish on Western Digital Corporation recently if you put credence in the rise in short interest. The company experienced a rise in short interest from June 15, 2017 to May 31, 2017 of 6.21%. Short shares grew from 4,276,155 to 4,541,747 over that period. Days to cover decreased from 1.2 to 1.1 and the percentage of shorted shares was 0.02% on May 31.